YES Bank has launched a new âFinBoosterâ credit card in partnership with BankBazaar.com, which allows the monitoring of customers’ creditworthiness. The co-branded credit card is built around a credit tracker and will help customers improve their score based on a review of factors affecting their credit score, according to a recent statement shared by YES Bank.
Credit score monitoring will be done through an intuitive subscription to the CreditStrong app (credit report), which is free for the cardholder for the first year.
âThe most recent edition of the BankBazaar Aspiration Index found that while nearly 90 percent of people knew what a credit score was, less than 70 percent could accurately indicate the impact of their credit ratings. financial habits on their credit score – that was the gap we saw among salaried professionals aged 22 to 45, ” said Mr. Adhil Shetty, CEO of BankBazaar.com.
If we consider the larger population that uses cards, the misconception around credit score is much higher. With the YES BANK-BankBazaar FinBooster card, we are trying to fill this gap by providing users with a card that also serves as a health and credit management advisor, ” added Mr. Shetty.
The credit card offers reward points that never expire with no accumulation cap. Customers can earn expedited reward points on online restaurant, grocery and clothing purchases that can be easily redeemed for over 250 catalog products.
The credit card will allow customers to share reward points with family and friends – passing the benefit on to loved ones.
“…. Finbooster in partnership with BankBazaar is another step in our effort to improve the customer experience while strengthening our credit card portfolio.
Designed to promote credit health, the card enables customers to improve their creditworthiness while continuing to earn reward points through their daily spending at brands and merchants, âsaid Rajanish Prabhu, Head of Cards of credit and the acquisition of traders.
On Friday, October 29, YES Bank shares rose 0.47% to Rs 12.80 each on BSE.